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Morgan Stanley upgrades Salesforce amid tech pullback, says stock can rebound more than 25%

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Signage on a Saleforce office building in San Francisco, California, U.S., on Tuesday, Feb. 23, 2021.

David Paul Morris | Bloomberg | Getty Images

The pullback in tech stocks has made industry leader Salesforce too cheap to pass up, according to Morgan Stanley.

Analyst Keith Weiss upgraded the stock to overweight from neutral, saying in a note to clients on Wednesday that the software company was still poised to benefit from increased tech spending by companies despite its recent slide in the stock market.

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